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Elon Musk was accused of creating a financial pyramid

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American demands compensation from Musk for large losses

In the United States, Elon Musk was sued for creating a cryptocurrency financial pyramid. The lawsuit was filed by a former user of Musk’s Dogecoin cryptocurrency.

Plaintiff Keith Johnson accused Musk of creating a cryptocurrency pyramid and is demanding the return of $258 billion — $86 billion in damages and $172 billion in triple damages.

Johnson began trading digital currency in 2019, but eventually went bankrupt. He also intends to ban Musk from promoting cryptocurrency and define its trading as gambling.

The lawsuit is likely due to the fact that in 2021 Dogecoin peaked at $0.7, and then collapsed to $0.05.

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